I’ve always heard that stores and retailers are willing to barter with customers on pricing, including many chains, but I never have the courage to actually haggle with salespeople. To be honest, I love the discounts but am really bad at haggling for a price. Now, with the launch of oBaz, I can simple get the new service to do all my haggling for me. Chicago-based oBaz is announcing that Lightbank, the venture firm founded by Groupon co-founders Eric Lefkofsky and Brad Keywell, has backed the startup. The amount of the investment was not disclosed.
oBaz, short for online bazaar, lets anyone create their own group of like-minded buyers looking to get a good price on the same product or service. You simply post the item you’d like on oBaz, wait for people to join the group (a minimum of 25 people have to be in a group to haggle for a product), and then let oBaz work its magic. oBaz hagglers will reach out to merchants or manufacturers and leverage the group and their own negotiating expertise to get the best possible deal. → Read More
After backing Babbaco, Lightbank is making another investment today. The investment firm has funded myRete, the developers of WhosHere,a location-based mobile social network. This is the first outside investment for myRete.
WhosHere is a location-based social networking application (an iOS app for now) that allows you to see who’s in your near location and message people. The app introduces a user to others with whom they have something in common and when a user finds someone they are interested in engaging, they can message the individual. You can chat with people nearby, send free text and image messages, and make free VoIP calls without giving out any personal information. You can also send virtual gifts to other users.
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OpenChime, a startup that allows users to get online quotes and information from an array of local service providers, today announced that it has raised $700K in seed funding from Lightbank, the Chicago investment firm started by Groupon co-founders Eric Lefkofsky and Brad Keywell. OpenChime was apparently discovered by Lightbank Partner Paul Lee and represents his first investment since joining Lightbank from Playboy Enterprises, where he was the managing director of digital ventures. In fact, during due diligence, Lee reportedly used the startup to find a service to repair his roof. → Read More
Lightbank, the investment fund of Groupon co-founders Brad Keywell and Eric Lefkofsky, is announcing its first partner hire today—seasoned media and technology venture exec Paul H. Lee.
Lee is joining Lightbank from Playboy Enterprises where he was Managing Director and Group Head of the company’s digital ventures group. Prior to joining Playboy, Lee was a Senior Vice President for the Peacock Equity Fund, the venture arm of NBC Universal in New York and was responsible for onvesting in emerging ad platforms including gaming and mobile/wireless advertising sectors. As a founding partner of the fund, Lee helped lead investments in 4INFO, Greystripe, Healthline, Ramp, and Rubicon Project. → Read More
Sprout Social, a provider of social relationship management services not be confused with Sprout Inc, Sprout or Sprout, has received a Series A round of funding from Lightbank, the recently launched investment vehicle created by Groupon founders Eric Lefkofsky and Brad Keywell. The terms of the investment deal were not disclosed, but Lightbank typically invests less than $1 million. → Read More
Eric Lefkofsky and Brad Keywell, two of Chicago’s best-known tech entrepreneurs, plan to invest as much as $10 million annually in early-stage technology companies through a new fund dubbed Lightbank.
The goal is to provide early-stage startups with seed financing, ranging from 100k to $1 million and fund companies with up to $10 million on an annual basis for the next 10 years. In addition to investing capital, Lightbank intends to take an active role in guiding and nurturing companies through all stages of growth. → Read More
